Section 179 Tax Deductions

 

How the Section 179 Tax Break Can Save Your Business Thousands of Dollars

Owning a business is expensive. You've got payroll, inventory, and other work-related expenses. It's a lot to carry. So, when opportunities to save money come along, you don't want to miss out. The section 179 tax deductions are designed to eliminate thousands of dollars from your expenses. And these savings can happen as soon as you buy a work-related vehicle from Mercedes-Benz of Shrewsbury. Let's find out how these savings can work for you.

Section 179 Tax Savings

Section 179 Tax savings provide a quick way to save money on the front end of your vehicle purchase. You can deduct up to $25,000 of a qualifying vehicle from your business' growth income during the tax year. In some cases, you can deduct the entire sticker price of your vehicle. But you may want to consult your tax specialist in Worcester or Boston to get the specifics.

These tax breaks are designed primarily for small businesses and people who want their tax savings right away. Taking this route will not only free up money ahead of depreciation but also provide financial leeway to purchase more vehicles or work-related items. But what types of vehicles qualify?

Qualifying Inventory

The IRS breaks the qualifying list of vehicles into three sections: light, heavy, and other. Light vehicles have a gross vehicle weight of under 6,000 pounds. It typically includes passenger cars, crossover SUVs, and small utility trucks.

Heavy vehicles include automobiles between 6,000 and 14,000 pounds. It covers many full-size SUVs, commercial vans, and pickup trucks. The "other" category lists vehicles that weigh over 14,000 pounds. It covers shuttle vehicles, delivery vans with a cargo area of at least six feet in interior length, and vehicles with an integral enclosure fully enclosing the driver compartment and load-carrying device.

Does Your Business Qualify?

Any business that purchased or financed new or used business equipment, including vehicles, during the applicable tax year. Those vehicles must have been in use, specifically for business purposes, more than 50 percent of the time. If you check off each box, then your business qualifies for the 179 Tax Exemption.

But, there are a few limits to this deduction. You can't write off more than $1,000,000. And the total amount of purchased equipment cannot exceed $2,500,000. After that amount, it phases out dollar for dollar. And once you reach $3,500,000, the deduction is obsolete.

If you believe your business is ready and you qualify for the 179 Tax deduction, we've got a great selection of Mercedes-Benz work vans in stock. You can check out what we have in stock below.

Mercedes-Benz Work Vans for Sale Near Boston

Our luxury Mercedes-Benz Sprinter Vans are the cream of the crop in Worchester. We've got The Mercedes-Benz Sprinter 2500 and the Mercedes-Benz Sprinter 3500. These models feature a 3.6L Turbodiesel engine with a payload of almost 4,000 pounds. The Interior cargo volume for vehicles like the Mercedes-Benz Sprinter 2500 is 488 cubic feet. With multiple interior configurations, you can make room for workbenches, desks, shelves, and more. Feel free to browse our Mercedes-Benz work vans and find the perfect model for your needs in Boston.

Mercedes-Benz of Shrewsbury

If you qualify for the tax exemption and you're ready to fill your inventory with high-quality work vans, we're here for you. Let us know how we can help you get the keys to your new sprinter van and save tens of thousands of dollars upfront.

Base MSRP excludes transportation and handling charges, destination charges, taxes, title, registration, preparation and documentary fees, tags, labor and installation charges, insurance, and optional equipment, products, packages and accessories. Options, model availability and actual dealer price may vary. See dealer for details, costs and terms.

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  1. Mercedes-Benz of Shrewsbury

    760 Boston Turnpike Road
    Shrewsbury, MA 01545

    • Sales: 508-581-5600
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